Assume exchange rates are as follows. $1.20 per euro $1.40 per pound 0.75 pound per euro How would I make money through triangular arbitrage with $1,000,000? Exchange $1 million to pounds. Receive 714,286 pounds. Exchange pounds to euro. Receive 952,381 euro. Exchange 952,381 euro to dollars. Receive $1,142,857 for a profit of $142,857. Exchange $1 million to pounds and get 1,400,000 pounds. Exchange pounds to euro to get 1,050,000 euro. Exchange euro to dollars to get $1,260,000, for a profit of $260,000. Exchange $1 million to euro and receive 1.2 million euro. Exchange euro for pounds and receive 1,600,000 pounds. Exchange pounds for dollars and get $2,240,000 for a profit of $1,240,000. Exchange $1 million to euro. Receive 833,333 euro. Exchange euro to pounds. Receive 625,000 pounds. Exchange pounds to dollars for $875,000 and a profit of $125,000